Greenline Partners LLC Has $2.53 Million Stock Position in Deere & Company (NYSE:DE)

Greenline Partners LLC lifted its holdings in Deere & Company (NYSE:DE - Free Report) by 123.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,961 shares of the industrial products company's stock after acquiring an additional 3,289 shares during the quarter. Greenline Partners LLC's holdings in Deere & Company were worth $2,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares during the last quarter. YANKCOM Partnership bought a new position in shares of Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth $35,000. Sierra Ocean LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $44,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Deere & Company in the fourth quarter valued at about $48,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the subject of several analyst reports. Morgan Stanley boosted their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. UBS Group lowered their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Robert W. Baird reissued a "neutral" rating and issued a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Truist Financial reissued a "buy" rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $460.21.

Deere & Company Stock Performance

Shares of DE traded up $4.19 during midday trading on Tuesday, reaching $499.81. 1,500,126 shares of the stock were exchanged, compared to its average volume of 1,418,023. The stock's 50 day simple moving average is $466.33 and its 200 day simple moving average is $452.10. The company has a market cap of $135.66 billion, a P/E ratio of 22.15, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, March 31st. Deere & Company's payout ratio is presently 28.72%.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company's stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.